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Jan 1, 2013
01/13
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after a week straight of losses already, nervous investors le leading up to the fiscal cliff, the average 401 k losing $3,000 in this country. abc's bianna golodryga was the story of just one family and the huge tax increase, if congress doesn't figure this out. >> reporter: until there's an agreement, this what the martins from raytown, missouri, like so many middle class american families, face. a hefty spike in taxes. beau, a government contractor, and deanna, an office worker, make a combined income of about $60,000. without a deal, their income taxes will rise by roughly $2,400 a year. on top of that, like everyone else earning $110,000 or less, they'll pay higher payroll taxes to pay for social security. with or without a deal, those are set to go up across the board by 2%. and for the martins, that means they'll pay an additional $1,200 a year. income and payroll tax increases combined, the martins are looking at an additional $3,600 in 2013. and it doesn't stop there. without a deal, feeding their 2-month-old baby daughter, grace, could cost the martins a lot more, too. every amer
after a week straight of losses already, nervous investors le leading up to the fiscal cliff, the average 401 k losing $3,000 in this country. abc's bianna golodryga was the story of just one family and the huge tax increase, if congress doesn't figure this out. >> reporter: until there's an agreement, this what the martins from raytown, missouri, like so many middle class american families, face. a hefty spike in taxes. beau, a government contractor, and deanna, an office worker, make a...
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Dec 30, 2012
12/12
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it is congress's fault. congress created this fiscal cliff. no one else to impose this on them. it is a self-imposed problem. >> the problem is that the president has never ge to the nation and made a serus speech about debt. he ignored it the first two years. he appoints aommission that he studiously ignores for the nextt two years. that is why we are at the fiscal cliff now. he is not serious about that. none of his proposals the raise taxes on the ridge. it is 8 cents on the dollar. it is a trivial amount money, and he has never put any political capital in entitlemement reform. you talk aut it here or there. never invested in the capital in it. >> i think we have a difference of opinion here. >> if it is such a trivial amount, then why the squealing the yelli, the hurt feelings? all of these plutocrats, my goodness gracious. i will say this -- right now, he is absolutely right. all the political advantage is with the president but if this ththing comes to a complete hal and falls,s, then there will be political blame across the board, and it will undermine all public confide
it is congress's fault. congress created this fiscal cliff. no one else to impose this on them. it is a self-imposed problem. >> the problem is that the president has never ge to the nation and made a serus speech about debt. he ignored it the first two years. he appoints aommission that he studiously ignores for the nextt two years. that is why we are at the fiscal cliff now. he is not serious about that. none of his proposals the raise taxes on the ridge. it is 8 cents on the dollar. it...
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Dec 31, 2012
12/12
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lawmakers are taking this country over the fiscal cliff. as one senator said today, something has gone terribly wrong when the biggest threat to our economy is our congress. let's get right to abc's chief white house correspondent jon karl covering this every step of the way. jon, many angry americans watching all of this. >> reporter: well, david, they just blew it. it is now clear that congress will fail to pass by midnight tonight something to prevent virtually everybody's taxes from going up. they have known for more than a year that tonight was the deadline and they just blew it. the deadline to prevent that massive $600 billion combination of tax hikes and spending cuts will be missed. but the scramble continues. to try to get a deal done and passed over the next day or two, that would put the tax cuts, at least, back in place retro actively. and today, they sure seemed close to a deal. >> i can report that we've reached an agreement on all of the tax tsh -- the tax issue. >> reporter: and even though the deal was not finalized, the p
lawmakers are taking this country over the fiscal cliff. as one senator said today, something has gone terribly wrong when the biggest threat to our economy is our congress. let's get right to abc's chief white house correspondent jon karl covering this every step of the way. jon, many angry americans watching all of this. >> reporter: well, david, they just blew it. it is now clear that congress will fail to pass by midnight tonight something to prevent virtually everybody's taxes from...
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Dec 31, 2012
12/12
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if congress and the president are going try to stop the nation from going over the fiscal cliff. tax hikes and spending cuts are just hours away. >>> despite the looming cliff, party preparations are under way on this new year's eve, as we welcome 2013. >>> and moengs nal and triumphant return to the sidelines. for indianapolis colts coach chuck pagano. seems his inspired season is not over yet. >>> good morning, i'm john muller sitting in for rob nelson. >> and i'm paula faris. >>> it looks like secretary of state hillary clinton will be celebrating the new year from a hospital bed. >> during a routine checkup for an earlier concussion, doctors discovered she had a blood clot. he's abc's dierdre bryant. >> reporter: secretary of state hillary clinton was admitted to the hospital on sunday with a blood clot. her doctors discovered it in a followup exam for a concussion sufferered earlier in the month. >> with time and with medication, the clot will dissolve. it won't propagate further. won't cause a clot to the lung. it will recover -- someone that has this will recover fully. >>
if congress and the president are going try to stop the nation from going over the fiscal cliff. tax hikes and spending cuts are just hours away. >>> despite the looming cliff, party preparations are under way on this new year's eve, as we welcome 2013. >>> and moengs nal and triumphant return to the sidelines. for indianapolis colts coach chuck pagano. seems his inspired season is not over yet. >>> good morning, i'm john muller sitting in for rob nelson. >> and...
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Dec 31, 2012
12/12
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the fiscal cliff deadline is looming. congress house and have a few hours left to reach a to stop potentially devastating tax hikes and spending cuts from taking effect. we will have an in-depth report few moments.just a and now a check on traffic. 118 in germantown, it looks like this all morning. no delays southbound. l head onto a map. we had an ongoing cleanup near the air force base. the lanes have been reopened. everything is looking pretty good. we will head to springfield. traffic moving smoothly north. here is a look at the weather. >> a little bit on the cool side. need playersy today. cold is here. the 21 in manassas, 29 degrees in washington d.c.. if the clouds are filtering in. they will thicken up throughout the day. average between 42 and 46. >> thank you. l have another local news coming up at 8:56 on this new year's eve morning. [ cheers and applause ] >>> all right. we have great crowd outside counting down to the new year. the party is already starting in here. >> a little bit. >> ron claiborne, dan abr
the fiscal cliff deadline is looming. congress house and have a few hours left to reach a to stop potentially devastating tax hikes and spending cuts from taking effect. we will have an in-depth report few moments.just a and now a check on traffic. 118 in germantown, it looks like this all morning. no delays southbound. l head onto a map. we had an ongoing cleanup near the air force base. the lanes have been reopened. everything is looking pretty good. we will head to springfield. traffic...
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Dec 31, 2012
12/12
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. >> >> we are now heading over the fiscal cliff. >> the house announced this afternoon it will not hold a vote tonight. >> the white house and the congress were very close at one point. >> the proposed agreement would raise taxes on families earning more than $450,000 a year and would extend other tax credits. >> let's ask the question? how will this news affect small businesses? we continue our coverage in sterling. >> behind me is a small business. they make these inserts for suitcases. they're not thinking about new years, but they're worried about the fiscal cliff. besides a quick slowing job -- gluing job it is a quiet new year's eve. >> we are in manufacturer of custom cases. >> the nine employees have the day off, but the owners are concerned about the fiscal cliff deadline. >> it hurts when everything gets put on that is really what happens. >> they had a pretty good year last year with about $1.8 million in sales. they worry about cutbacks and layoffs. >> we can survive on little to go without paychecks to pay these guys. >> nearby, he is also keeping close watch on the fiscal
. >> >> we are now heading over the fiscal cliff. >> the house announced this afternoon it will not hold a vote tonight. >> the white house and the congress were very close at one point. >> the proposed agreement would raise taxes on families earning more than $450,000 a year and would extend other tax credits. >> let's ask the question? how will this news affect small businesses? we continue our coverage in sterling. >> behind me is a small business....
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Dec 31, 2012
12/12
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while congress cannot seem to agree on a way to avoid the fiscal cliff, it appears to have taken action to keep milk and dairy prices from doubling i >> this is "good morning washington." >> it is new year's eve. the big changes for one local community as far as how it will be getting its news from now. >> we know this affects people in the manassas, manassas park and prince william county areas. the manassas news and messenger newspaper printed its final addition yesterday. the company who owned the paper decided it was quite a shutdown back in november because they said the paper was not making any money. about 70 employees there lost their jobs. a little good news, the times committed the media group who has other local newspapers in northern virginia will launch the prince william times on january 9. the northern virginia media services group will take over the insidenova.com website. thicken still read their news online. >> the sandy hook shooting renews the debate over guns in america. president obama pledged to put his full weight behind legislation aimed at preventing violence.
while congress cannot seem to agree on a way to avoid the fiscal cliff, it appears to have taken action to keep milk and dairy prices from doubling i >> this is "good morning washington." >> it is new year's eve. the big changes for one local community as far as how it will be getting its news from now. >> we know this affects people in the manassas, manassas park and prince william county areas. the manassas news and messenger newspaper printed its final addition...
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Jan 1, 2013
01/13
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cliff deadline had gone by. >> i think we can say we've done some good for the country. >> reporter: since lawmakers missed the midnight deadline nearly every american wakes up with higher taxes but congress can undo those tax hikes if the house passes the senate's bill. vice president biden, who was instrumental in brokering the deal, told reporters he's hopeful it can get through the house but you never know. >> you shouldn't predict how the senate will vote before they vote and number two, you surely shouldn't predict how the house is going to vote. >> reporter: it would extend tax cuts for all workers earning under $400,000 and raise taxes on people above that level and prevent a big tax hike in an estate valued at less than $5 million and extend unemployment benefits for 2 million people. the house will take it up later this morning, the hope is that chamber can pass it before the economy is rocked by the tax hikes. >> happy new year. i feel very, very good. >> reporter: president obama called the senate vote the right thing to do for the country and he encouraged the house to p
cliff deadline had gone by. >> i think we can say we've done some good for the country. >> reporter: since lawmakers missed the midnight deadline nearly every american wakes up with higher taxes but congress can undo those tax hikes if the house passes the senate's bill. vice president biden, who was instrumental in brokering the deal, told reporters he's hopeful it can get through the house but you never know. >> you shouldn't predict how the senate will vote before they vote...
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Jan 1, 2013
01/13
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while the world was celebrating, congress was working to avoid the fiscal cliff. >> but there was no reason for celebration, at least on capitol hill. it is tuesday, january 1, 2013. >> from abc news, this is "world news now." >> we both agree it's really weird saying 2013. >> that was awkward. >> writing your relate check, how long are you going to write 2012 for, another six months? >> i'm all caught up -- i thought you were insinuating i was not caught up on rent. >> no. >> but to say january and 2013 in the same sentence is awkward. >> we'll get used to it. good morning, i'm john muller in for rob nelson on this first day of 2013. >> and i'm paula faris on this first day of 2013. senators worked late into the night, but no luck, at least not really. was the fiscal cliff averted? kind of, sort of. still missed the deadline to avoid the fiscal cliff. we'll have the latest on negotiations in a moment. but first, a look at some of the other stories we're following for you on this new year's day. hillary clinton spending today in the hospital, as we're learning more about her conditio
while the world was celebrating, congress was working to avoid the fiscal cliff. >> but there was no reason for celebration, at least on capitol hill. it is tuesday, january 1, 2013. >> from abc news, this is "world news now." >> we both agree it's really weird saying 2013. >> that was awkward. >> writing your relate check, how long are you going to write 2012 for, another six months? >> i'm all caught up -- i thought you were insinuating i was not...